Friday 9 December 2016

GDP: Fiddling with the most powerful metric in history

Published 02/10/2016 | 02:30

'Click to enlarge'
'Click to enlarge'

Gross domestic product has been described as the most powerful metric in history.

  • Go To

Since its invention (in depression-era America, where it was created with a view to better understanding what was happening in a collapsing economy), it has gone from strength to strength over decades.

But more recently, misgivings from various quarters are more frequently heard. One of the main criticisms of GDP is that output and production measures may not give a good guide to what is happening to people's incomes.

Please sign in or register with Independent.ie for free access to Opinions.

Sign In

Read More

Don't Miss

Editor's Choice